Trade idea's...well, just checking the market has been a struggle. I know that OPEN and BID have rallied pretty well with this market, but I'm still committed to another leg down. There was a good chart posted on SlopeofHope today that mentioned BID. My last move was on Friday when I closed my FSL short for $10.70...making a whopping 0.37/share on that trade.....but the move was as a protection from what ended up happening...the stock up to 12.51 after today's 7.8% gain. So as of now, that trade may have made no money, but it's one of the one's I feel best about this month (assuming it doesn't go bankrupt in the next few days).
Stocks of interest to me right now. On the short side: MGM. Missed the last leg down, but it's setting up for another good fall to the $8 range.
....heck, I could find a ton of great short opportunities after the rally we've had the past week. Just about every garbage company has taken off and with any market weakness will get hammered again (same goes for Energy and Financial stocks)
I wouldn't trade anything on the long side right now until we get some sort of consolidation or sideways movement to work off the short term overbought market conditions. NKE is looking great though, and a move back to challenge it's 52wk high of $94.2x looks likely. The next few days will be really focusing on getting back into the charting/research to get ready for the upcoming earnings season.
Tomorrow we have a meet in the afternoon, and I plan to get my run in the morning, so I may miss most of the day, but that's probably been a good thing this week...with my short bias right now, It prevented me from possibly making some losing trades. So, just a post to show that I'm alive...and tonight, another BREWERS WIN!!!!!
And for that...a revisit to one of Niger Morgan's best interviews of the year.